Oracle, a US software company, has launched an internet and mobile banking system to handle services ranging from traditional face-to-face banking to internet-based finance.

Oracle Flexcube Direct Banking 5.0 caters to a wide range of transactions across corporate, retail as well as investment banking such as funds and wealth services, Oracle said in a statement. 

From a single installation, the application can handle a variety of institutions operating in different parts of the world. The system enables users to set up local preferences covering aspects such as currency, language, time zones, business calendars, business functionality and the branding of user interfaces.

Its multiple-entity platform helps financial institutions reduce costs by making more efficient use of infrastructure and give more operational and administrative control.

The product is being issued by Oracle Financial Services Software, a majority-owned subsidiary of California-based Oracle, the world's largest business software company.